"[L]et's assume that your current lead generation efforts cost $100,000 and generate 50,000 leads," says Pat McGraw at his blog. "[T]hat's a cost per lead of $2. But if your conversion rate is 10%, that means that 45,000 leads or $90,000 failed to produce your ultimate goal—a sale."
So how can you get the most for your lead-generation dollar? McGraw has advice like this:
Attract leads who are most likely to become your best customers. "Start with your current 'best customers,'" he suggests, "and find out how they learned about your business and why they selected you over the competition." Use that information to make yourself as irresistible as possible to similar prospects.
When you catch their eye, be certain you have relevant information. Once you've got a buyer's attention, you often have mere seconds to keep it. "Highly successful lead generation processes understand the importance of tying messages and offers to where the buyer is in the buying process," he notes.
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